Axcan, TPG Capital transaction receives final regulatory approval

By Lisa Kerner

Charlotte, N.C., Feb. 14 - The Federal Minister of Industry, under the Investment Canada Act, approved the proposed acquisition of Axcan Pharma Inc. by an affiliate of TPG Capital.

The plan of arrangement received clearance under the Competition Act (Canada), and the Hart-Scott-Rodino waiting period has expired.

With all necessary regulatory approvals received, the transaction is expected to close on Feb. 25, a company news release stated.

Axcan, a Mont-Saint-Hilaire, Quebec-based specialty pharmaceutical company, agreed to be acquired by TPG Capital and its affiliates in an all-cash transaction valued at some $1.3 billion, or $23.35 per common share.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.